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Buffalo Ends Year in the Black

Buffalo, NY – Buffalo has closed the books on a very difficult fiscal year in the black.

Monday marked the start of a new city fiscal year.

Buffalo Mayor Anthony Masiello, joined by the comptroller and council president, said they managed to repay more than $124 million in short-term borrowing and interest costs, ending the year with a positive cash balance.

Masiello said tough decisions, such as 300 job cuts and other spending reductions helped reduce a $30 million mid-year deficit, and fend off a Wall Street downgrade.

But the Mayor said he is still calling on unions to offer health care concessions.